RAD PIH Notice 2012-32 (.pdf, 1 MB) - National Low Income ...

Appendix I – 24 CFR Part 880 Regulation, Stricken for PBRA Conversions§ 880.501 The contract.(a) Contract. The Housing Assistance Payments Contract sets forth rights and duties of theowner and the contract administrator with respect to the project and the housing assistancepayments. The owner and contract administrator execute the Contract in the form prescribed byHUD upon satisfactory completion of the project.(b) [Reserved](c) Housing Assistance Payments to Owners under the Contract. The housing assistancepayments made under the Contract are:(1) Payments to the owner to assist eligible families leasing assisted units, and(2) Payments to the owner for vacant assisted units (―vacancy payments‖) if the conditionsspecified in §880.610 are satisfied.The housing assistance payments are made monthly by the contract administrator upon properrequisition by the owner, except payments for vacancies of more than 60 days, which are madesemi-annually by the contract administrator upon requisition by the owner.(d) Amount of Housing Assistance Payments to Owner. (1) The amount of the housing assistancepayment made to the owner of a unit being leased by an eligible family is the difference betweenthe contract rent for the unit and the tenant rent payable by the family.(2) A housing assistance payment will be made to the owner for a vacant assisted unit in anamount equal to 80 percent of the contract rent for the first 60 days of vacancy, subject to theconditions in §880.611. If the owner collects any tenant rent or other amount for this periodwhich, when added to this vacancy payment, exceeds the contract rent, the excess must be repaidas HUD directs.(3) For a vacancy that exceeds 60 days, a housing assistance payment for the vacant unit will bemade, subject to the conditions in §880.611, in an amount equal to the principal and interestpayments required to amortize that portion of the debt attributable to the vacant unit for up to 12additional months.(e) Payment of utility reimbursement. Where applicable, the owner will pay a utilityreimbursement in accordance with §5.632 of this title. HUD will provide funds for the utilityreimbursement to the owner in trust solely for the purpose of paying the utility reimbursement.[44 FR 59410, Oct. 15, 1979, as amended at 49 FR 19943, May 10, 1984; 61 FR 13587, Mar. 27,1996; 65 FR 16722, Mar. 29, 2000]§ 880.502 Term of contract.PIH-2012-32 (HA) Rental Assistance Demonstration – Final Implementation 156